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FOX Business
Jan 23, 2013 11:00am EST
, it is yours. connell: congress set to make a move on the debt ceiling. art laffer is coming up. dagen: playing some defense. the jpmorgan ceo lashing back at critics. more regulation is needed. connell: testifying on the benghazi attack and why moore could not have been done to save americans who died in libya. we will talk about that. dagen: stocks now and every 15 minutes. nicole: we are seeing the dow and the s&p hitting five-year highs. we are in quite an environment. nowhere near that 6500 mark where we were for the dow. we have seen a lot of names on the dow doing well today. microsoft, united, disney. we have had earnings season. we are all waiting on the debt ceiling and, obviously, that is something that looms over. google is up 6% now. as we await each one, it certainly can be a market moving event. after the bell, we will have apple and netflix. dagen: ridge edson is standing by on capitol hill with much more. rich: nothing is really set in stone. this bill would extend the debt ceiling until may 19. it requires the house and senate to pass a budget. if they pass a budget resolution
PBS
Jan 22, 2013 4:30pm PST
: the white house says president obama won't "stand in the way" of the short-term increase in the debt ceiling that's been proposed by house republicans. the move to extend the nation's borrowing limit for three months is set to come to a vote tomorrow. and that news has reassured markets that the risk is fading that the u.s. will default on its debt for the first time in its history. darren gersh reports. >> reporter: house speaker john boehner said republicans were willing to suspend the debt ceiling for three months. sending democrats to act. >> it has been nearly four years since the senate has done a budget. most americans believe you don't do your job, you shouldn't get paid. that's the basis. no budget; no pay. it is time for the senate to act. >> reporter: the white house called the move by house republicans "significant," though the administration still argues a short-term extension of borrowing authority does not go far enough. >> what we support is a long- term raising of the debt ceiling so that we don't have any doubt or uncertainty for businesses or the global economy about the s
NBC
Jan 20, 2013 4:00pm PST
makes up 70% of the u.s. economic growth. the debt ceiling debate, presidential report card and quiet market rally. what does it mean for you money? joining us right now, jared bernstein, center on budget and policy priorities and chief economist to vice president biden. also with us, russ koesterich. thanks for joining us. >> thanks, maria. >> russ, let me kick it up with you. a pretty good rally. on thursday the s&p 500 hitting yet another five-year high. is this rally for real? do you think it's sustainable going forward as we continue through this earnings period? >> i think in the short term, it is. i think we're probably going to hit a road bump in february. the reason i say that is we've got a lot of flows coming into the market early in the year. people were nervous in december. they're coming back in to stocks. that's a good thing over the longer term. we do have some issues coming up. the debt ceiling obviously one of them. the second question is we start to get the economic data. how big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which
CNBC
Jan 23, 2013 7:00pm EST
, debt ceiling. on the other hand, despite all of that liquidity, we have mediocre employment growth, manufacturing data, while it has improved is still around that recessionary line of 50 and to your point around m2 that's very interesting and yet we're still at record low velocity of money. that's very scary. all this money pumped into the system is sitting on the balance sheets of banks, corporations. >> nominal gdp is starting to rise. >> slowly. >> what about the information revolution? now, you made an important point. so far why should raise taxes on investors, terrible idea. i'm hoping do no harm, maybe some small spending cuts so that's not going to be a factor. i don't see a debt default. i think that's off the table. what blt american energy revolution, what about the growth, what about the cheap natural gas and what about how that makes america so competitive? i'm only talking 2.5% growth, not 3%, 4, 5% growth. >> the fertilizer trusts are on fires. ammonia is going to be cheap, that's terrific. but here's a factoid for you. kmn's exports to asia are up 20% year on year.
CNBC
Jan 22, 2013 1:00pm EST
if there's no solution on the debt ceiling by the deadline day. >>> and this guy, he's teed off, the golfer phil michakelson tee off over his taxes. and he's not going to take it anymore, or is he? sue herera is live at the new york stock exchange. >> earnings are front and center with j & j, dupont, travelers all out with results. more on them in a few minutes. let's get you ahead of the curve. google is getting ready to report its latest results after the bell. fears about an ad revenue and major focus on those shares. google right now is down 3 bucks on the trading session. john is in silicon valley with what investor s need to know ahead of the numbers. >> couple of important themes this quarter, mobile and mobile. mobile's impacted on the core business. as more people do searches from mobile devices, google's revenue has been coming down. it's more than likely this trend will continue as smartphone and tablet sales spike. cbc could come down 11%. it was down 15% last quarter. then we have the nexus 7 and nexts 10 tablets. in q3, some analysts estimate google sold around 100 million tab
CNBC
Jan 22, 2013 4:00pm EST
in less than an hour. >> expected to tee off a vote on the debt ceiling bill. what's their new plan? we'll go live to washington next, and even with the immediate threat of the debt ceiling ahead, another's contrarian view coming up. >> chip murky's quarterly result are due out now. those numbers coming up as we continue on the "closing bell." . ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. there. i said it. they don't have pictures of my kids. they don't have my yoga mat. and still, i feel at home. could it be the flat screen tv? the not so mini fridge? ♪ the different free dinner almost every weeknight? or maybe, it's all of the above. and all the rest. am i home? nope. but it almost feels that way. homewood suites by hilton. be at home. >>> all right. they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming
FOX
Jan 22, 2013 6:00am PST
house republicans could avoid a showdown over the debt ceiling. coming up, we will have a live report from our washington d.c. newsroom with not so hidden agenda. >>> tara moriarty tells us about the four victims shot at and they are all teens. >> reporter: ever since we were here, neighbors stopped by to ask us if we have more information because quite frankly they are shocked as the teens were standing here and somebody drove bias -- drove by and shot at them. you can see the bullet holes. this all happened at 6:00 in grandville and the driveby shooting left four young people ranging in age 13 to 16 and luckily they are all expected to survive. they were struck by bullets by three or four males ins side. two middle school boys were here and we don't know if they were in deed the victims. >> i have seen them playing soccer and i have never had any problems with that family. >> so you really are surprised. >> yes, it is very surprising, very scary. >> right now detectives say they have no motive and they are not saying if the shooting is related. we will keep checking in with them all
FOX Business
Jan 23, 2013 1:00pm EST
stocks, overall, will head up. cheryl: there is a lot happening. with the big vote on the debt ceiling extension so short-term. it will give lori and melissa a lot to do in the next few moments. lori: thank you. good afternoon. i am lori rothman. melissa: and i am melissa francis. the extension of the debt ceiling. will it make the markets feel any more confident? lori: in the meantime, lou dobbs is here. secretary of state hillary clinton testifying on the benghazi attack. melissa: is the economy and low beer? we have an exclusive interview with the american trucking corporation bill graves. lori: the big apple shrinking? the new trend of micro- apartments in manhattan. 250 square feet. melissa: time for stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange where nicole petallides is standing by. nicole: i saw pictures of those apartments, i would love to buy one. they actually look very cute. let's take a look at some of the earnings related names. let's start at mcdonald's. it is up about a half% here. they expect the management -- that is not
FOX News
Jan 22, 2013 1:00pm PST
getting word that as expected the house will vote on the debt ceiling limit for another few months, pushing it back to may 19. the report on this possibility yesterday in washington for the inauguration, this this might be a face-saving gesture on the part of republicans to gather their duffs and buy some time with a president who at least for the time being is more popular than they. what do you make of the timing of this vote? -- and what they will gain? >> i think the republicans were concerned about public perception of them not doing anything and i think it's a bad idea. i mean, i think this kicks the can down the road. move people say, we want a solution today. we don't want to keep having this conversation. every couple of months, we talk about the debt ceiling, what good is a ceiling if you keep raising it and you don't make spending cuts to keep yourself under that number? it has no purpose. >> neil: i want to take a look at the corner of wall and broad. many argue the reason why it was up 62 points is the fact that, whew -- it's a relief they won't bring this to the brink
FOX Business
Jan 22, 2013 11:00am EST
their lives around. rich: the house tomorrow will vote to extend the debt ceiling to may 19, as long as the senate and house both pass a budget. if not, this bill prescribes that it gets held back is not. dagen: thank you. president obama mentioned just about everything from gun control to climate change in his inaugural address. one thing was almost missing, though. jobs. joining us with more is steve moore. he laid out his agenda, a whole host of things. why not focus on jobs. does he think that this recovery is so on track that jobless rate will continue to fall, steve? >> i was struck by that also. in the whole speech, he did not talk about jobs. he did not talk about private business and entrepreneurs. it was a very pro-government speech. the president has a big challenge ahead. we still have a near 8% unemployment rate in this country, chipolte, over the last four years of this suppose it recovery. i do not think he mentioned the word jobs in that entire speech. dagen: three times. we did a quick count. >> i stand corrected. dagen: if you go through the list of things that he c
FOX Business
Jan 22, 2013 4:00pm EST
to the front line. that is the capitol. we have the latest as the house prepares for a vote on the debt ceiling. david: congress heading back to work today following the president's inauguration speech yesterday which a lot of the members of the republican party saw as a poke in the eye to them. >> the first order of business for congress, the looming debt ceiling. rich edson live on capitol hill. hi, rich. >> hey, lauren, we'll get that vote tomorrow in the house to extend the debt ceiling to the middle of may. when it comes to a longer term debt solution, longer-term debt ceiling solution and when it comes to taxes and spending the parties are far apart as they always been a day of a the president's inauguration and one which both parties have a very different take on the president's address. >> people can criticize president obama about a lot of things but not his ability to communicate and i think he communicated to the american people a message of hope, a message of action, and i liked it very much. i, we should move past the name-calling phase. >> one thing was pretty clear from the p
CBS
Jan 22, 2013 6:00am PST
's victories will be only partial. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. we realize the president won the election. >> reporter: republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt limit, they want senate democrats to do something they have not done in four years, pass a budget. >> for us to have a debate about spending and debt, we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> reporter: senate democrats view a budget vote as an opportunity to raise more money through taxes. >> it's going to be a great opportunity. in our budget that we will pass we'll have tax reform, which many colleagues like but it will include revenues. >> reporter: the house i
FOX Business
Jan 21, 2013 1:00pm EST
not gone completely shut down, so we may get at three month extension of the debt ceiling. extending that three months republicans are asking that congress pass a budget to be taken political aim at the u.s. senate because in the u.s. senate they have not passed a budget in a few years. with that they get democrats on the record and the senate with a budget which is something that had been hoping to do politically. they don't have any spending cuts as part of this. another part of this is that congress will get paid if they don't pass a budget. is knows that argument. there will be having budget fights every few months. >> something to look for too. thank you. melissa: just attending the inauguration this morning. lori: that's right. let's bring in lou dobbs listen to that speech this morning. >> the leader of this country for the previous four years. the welcome tone in many respects. in other respects it was confusing and confounding. suggesting that somehow -- he talked about one thing in particular, talking about self executing troops. we don't have any of those. there were momen
NBC
Jan 23, 2013 5:00am PST
. >> good morning, john. two parts of the vote today. first of all, raising the debt ceiling. allowing the country to borrow more to pay off the debt that we have already incurred. something president obama was pushing more. conservative republicans wanted to see cuts first. now the republican leadership said we won't link the two. we'll raise the debt ceiling until the middle of may. however there is a catch. they want to ensure that a budget is in place. a spending plan for the country. so the vote also says if lawmakers on either said don't pass a budget by april 15 -- tax day for everyone else -- they would lose their income. no paychecks until they have a budget. that's where we are now. that's the crux of the vote coming up today. the white house says the president will sign the bill if it's passed. republican ps have been counting their votes. despite opposition still from conservatives who want to see spending cuts happen first. they believe they have the votes for it to pass. 17 conservatives could derail that. >> we'll see if there is movement. thank you very much. >> the wom
CNBC
Jan 22, 2013 7:00pm EST
made this deal yeah, we are going to extend the debt ceiling. now, it gets attached to a balanced budget. >> two points, in regard to congressman welch. when you have liberal s ip the house and senate, that is their plan to spend more money. i know you are talking about our budget larry, but we have to step back. there is going to be no budget that takes place unless the senate passes a budget. but to get congress both chambers to work together, we need the senate to pass the budget. so we said no budget senate, no pay. that is a way to get the senate to engage. >> i'm not challenging your logic, but i'm challenging your process. the series of dates that is so important one is april 15th. i preseume that is paul ryan's budget. i don't see how you can vote tomorrow on a debt extepgs nsio increase and attach a balanced budget before you know what the balanced budget is. i see that as a problem. i want peter to tackle that. >> we are passing the no budget no pay act. it is going to give both chambers, the senate and the house to pass the budgets. what you are hearing is, the house is
KICU
Jan 22, 2013 4:00am PST
. which makes me start to get a little nervous. let's talk about the debt ceiling extension as well. does this take anything off the table for the market or is the market over watching what's going on in washington? if you look at what happened with the fiscal cliff, how that was solved within 24 hours to go. a lot of traders and investors anticipate a similar situation with the debt ceiling. whether we get this extension of three months or whether overnight some kind of resolution to it is being done it seems like the general consensus is this thing will be fixed and we will be able to move on and look forward past it. there's a blast of winter rushing through the u.s. this week. what will that mean for natural gas prices? we have seen natural gas prices climb aggressively off their lows. we pushed through 350 last week. we also had a draw down in their storage report. we're expecting another draw down going forward. but as far as other similar markets like crude oil and heating oil we've also seen quite a bit of demand for the. crude oil has a little bit more geopolitical tension so you
CNBC
Jan 22, 2013 4:00am EST
and texas instruments. house leaders are expected to vote tomorrow to extend the debt ceiling deadline until may 19th. the gop measure doesn't specify an amount, but would lead let the government borrow what it needs to meet its obligation for that period. the strategy shift was agreed to last week and would let republicans focus on other fiscal fights in march such as ook automatic spending cuts delayed by the deal and the potential resolution. julian callow is still with us. julian, do you take this news as a positive development for markets or are you concerned about still the prospect of a government shutdown as others are calling for once we hit some of those further deadlines? >> yeah. i think that is quite positive, really. it shows that there is some desire not to up the vote too much on the side of the house. republicans at this stage. i think it's actually very important if we think about what it means for both financial markets and for the u.s. economy. obviously, financial market conditions have improved noticeably. there's less uncertainty around. that should come through in ter
KRON
Jan 22, 2013 5:00pm PST
and benghazi.to the fall- out from his inauguration speech. and then there's the debt ceiling. things are not going to be dull. no one was particularly surprised today when republicans began bashing the president's inauguration speech. he offered a liberal vision - touching on and preserving the social welfare safety partisan and aggressive. >> "the era of liberalism is back.unabashedly far left of center inauguration speech" >> catherine: white house cameras caught the president and first lady surprising tourists at the white house today. it's not usually part of the tour. but then it was back to work. one of the first tests of the president's second term comes quickly this week. chuck hagel - his choice as defense secretary has to win over hostile republicans. there's a senate hearing this week. john kerry on the other hand - is expected to breeze through his thursday hearing.as the choice for secretary of state. another key hearing. hillary clinton - who still holds that job - is set to testify on the attack on the american mission in libya wednesday. where she could be grilled on
CNBC
Jan 23, 2013 12:00pm EST
's capital at this hour where a house vote on extending the debt ceiling is expected within the next half an hour. we'll look in live when it happens. but first our top stories, waiting on apple. america's most valuable company reports earnings today after the close, and with shares down 30% from the highs, the stakes could not be higher. cnbc's jon fortt is live in silicon valley with the latest. jon? >> reporter: hey, scott. the main number to watch in this report is iphone sales. that's going to have the biggest influence on margins. if the iphone outperformed, it's also going to have an impact on revenue and ep s. take a look at some estimates out there for iphone sales. i think the street's consensus is between 46 million and 48 million units with some moving higher in recent days. for ipad sales consensus is around 23 million or 24 million units. here is the thing i keep coming back to. verizon's numbers yesterday, i know it's a fool's errand to extrapolate out to a global iphone, apple's penetration into verizon hit ridiculous levels last quarter. verizon activated more old iphones
FOX
Jan 22, 2013 5:00pm PST
for a temporary lift to the debt ceiling. the house is expected to approve legislation on wednesday that would raise the debt limit for three months without any cuts to spending. members of the congress believe they can come up with a spending plan during that window. honda of campbell also introduced legislation for a back up plan that would prevent the worse fiscal cliff. >> i think we should have a process that addresses that so that it doesn't become a barrier or a political football. >> the last time lawmakers fought over the debt ceiling two years ago the country's credit rating was downgraded. >>> on wall street, stocks closed higher despite mixed earnings. >>> president obama began the first day of his second term with a traditional postinaugural prayer service. the president and first lady were joined by vice president biden and his wife at the washington cathedral this morning. the national prayer service dates back to the first inauguration of george washington. the interfaith service included prayers and readings from christian denominations along with islam, judisim and the sikh r
FOX Business
Jan 22, 2013 1:00pm EST
term. >> the house is getting set to vote on the republican debt ceiling proposal tomorrow. that delays the debt ceiling increase or increases the debt ceiling really until may 19th. it is contingent upon both houses of congress passing a budget or members of congress won't receive their paychecks, something the house votes on tomorrow. back to you. ashley: rich edson in d.c.. rich, thanks very much. tracy: well, president obama touched on many subjects in his inaugural address yesterday including immigration reforms, equal pay for women, and gay rights and climate change but there was one big, glaring omission. he failed to address the nation's current 7.8% unemployment rate. i'm not really sure how you could miss that actually. a big question to the speechwriters with that one. but important milestones coming up in the protracted fiscal negotiations including big vote tomorrow on the house to temporarily extend the debt ceiling now. many americans are wondering what legislators plan to do about jobs. joining us from both sides of the aisle, republican congressman trey gowdy from south
NBC
Jan 23, 2013 4:30am PST
on a measure to suspend the debt ceiling through may. this is different from bills which raised the amount the government could borrow. republicans and the obama administration support the plan because there is no dollar figure attached. critics know the plan amounts to a band aid and doesn't address the larger spending issues. >> 4:51 now. coming up, we're going to break. the new thing to do if you are a niners fan. >> and the super bowl staple that could have you digging deeper into your wall wallet. >> bummer. looking at the east shore freeway. nice spacing. i'll give you an update on the 580 crash coming up. >>> welcome back. how about a cold reality check from chicago? temperatures around zero. firefighters fought a five alarm fire. that's frost. looks like snow on the building. that's the water that's frozen instantly when the firefighters were fighting the fire. obviously the fire is out. that's extreme temperatures about 10 firefighters out there spraying water on it. looks like a winter wonderland. that's crazy. temperatures here, not bad. if you plan to have a super bowl party an
CNBC
Jan 22, 2013 9:00am EST
the debt ceiling. [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. >>> good morning from l.a. one of the biggest events that investors have to look forward to over the next year is the prospect that hilton could be returned to the u.s. stock market. now, remember, blackstone took it private at the height of the market. $26 billion, a whopping $26 billion in 2007. the question that investors and the rest of the industry want to know is, in that private environment, what has private equity done with hilton. for the first time we'll start pricing apart hilton for the sake of investors and the rest of the industry. joining me here is the president for development at hilton. welcome to the program. >> good morning, simon. >> what have you done in particular, what has the international expansion been for hilton whilst under blackstone? >> in the last five years we're focused on growth. we've added in the last four or five years, where we've had these terrible economic conditions, we've added 1,000 hotels.
CNBC
Jan 23, 2013 6:00am EST
's scratching their heads. and now with the possibility of having the debt ceiling extension out to may, what you're going to see now is traders and other people that have positioned themselves to sell short-term volatility and buy it out to march. especially in the vix. now that's going to get rolled out to april, to may. you'll see this continued complacency. and when i say complacency, i don't think that's a bad thing. but the continued complacency in kind of this area of low volatility. that's just going to get extended out now. we get a couple more big earnings or good earnings surprises. and say apple comes out today with -- with some good guidance, we could see the vix call to the 11 handle which is really -- that's almost unprecedented. >> continued complacency, but the news of earnings is pushing forward? you can't fight the trend? >> no, you can't. what i'm seeing is traders especially that have wanted to be short or traders that have been buying, you know, upside calls in the vix, they're almost ready to throw in the towel. it's almost -- i don't. to say a capitulation, but guys do
CNBC
Jan 22, 2013 6:00am EST
. think debt ceiling when we return. [ male announcer ] this is not my home. there. i said it. they don't have pictures of my kids. they don't have my yoga mat. and still, i feel at home. could it be the flat screen tv? the not so mini fridge? ♪ the different free dinner almost every weeknight? or maybe, it's all of the above. and all the rest. am i home? nope. but it almost feels that way. homewood suites by hilton. be at home. >>> welcome back, everybody. the s&p is indicated slightly down as the is dow jones. the nasdaq is staying higher. we did hear from dupont which came in with better than expected numbers and ta dow component is up by 1% at this point? >> if you split the bid and the ask, it would be. >> 1.4% from the free market. >> our headlines this morning, a tropical storm intense fieging off of australia's coast. it's bringing nearly half the world's iron ore trade to a halt today. right now, let's get today's national forecast. reynolds wolf joins us from the weather channel. reynolds, it's great to see you this morning. >> great seeing you guys, too. the story down unde
CNBC
Jan 22, 2013 5:00pm EST
the congress, basically, we're talking about pushing out the debt ceiling three months. you are freeing up a run way here where earnings if they are okay, macro is settling in. what we heard from freeport, bhp, all the guys looking around the world are seeing this growth. when you combine it with bank of england today, saying, we're going to give you more stimulus, fed basically saying, we're still in play, what more do you need? >> but if we are just pushing the debt ceiling, are we just kidding ourselves? the same issues -- >> but we're traders, so -- >> true. >> i'm hopeful it is a sign it won't come to this brinksmanship. i hope that's the case. because that leads, i think, to not the best outcome. whatever you can pull together at the very last minute. so, i think that's kind of a positive. i, like pete, i want to stay long, but with the volatility index here, i think you have to buy some relatively cheap protection. >> so, you are a buyer but with protection. >> yes. >> we talked about the dow having its best january in quite some time. look at the components that have lead us higher
FOX Business
Jan 24, 2013 8:00pm EST
. it keeps ballooning. we will have this debt ceiling fight which will begin in a few weeks and then we will be back to square one. what we have faith in these guys? >> well, let me mention another statistic to give emphasis to this point that they cannot predict with these deficits and the spending will be like. you know, on the interest-rate issue, if we just have a 100 basis point increase in interest rate, that adds $1 trillion to the debt of the next ten years. these numbers are incredibly sensitive to changes in the economy, employment, interest rates, inflation. but when congress cannot find another. that is the problem with these budgets. it emphasizes, start to make long-term changes in the law with respect to the way these entitlements work. and if you do that you can change over a long time the direction of how much these programs like social security, medicare, medicaid go into debt. [talking over each other] >> i just wanted to come in here. they would not even consider another ratings downgrade last the medium term budget was not satisfactory, so they're not even looking f
NBC
Jan 22, 2013 5:00am PST
in the house tomorrow that would allow us to raise the debt ceiling. republicans said they didn't want to do that without cutting back spending. the president didn't want the two linked and republicans apparently have relinquished that threat and pushed for the raising the debt ceiling temporarily into the spring to pay bills. they also say if either chamber doesn't come up with a permanent budget, that chamber, either the house or senate, the lawmakers won't get paid. we'll see how that vote goes later today. the president laid out a number of things including climate change, gay rights, health care immigration, and it remains to be seen how much of that they will be able to tackle in the second term. >> he better eat his wheaties. time to get done. thank you very much. >>> happening now, fire crews are battling to contain a fire at beale air force base about 50 miles north of sacramento. the fire has been burning for hours. this is what it looked like just last night. firefighters say they now have the fire about 75% contained. it broke out about 2:30 yesterday afternoon inside a building
ABC
Jan 22, 2013 6:00am PST
including raising the debt ceiling, which the house expected to vote on tomorrow. in the inaugural address, he made history as the first president to mention the word "gay" and "gay rights." >> if we are truly created equal surely the love we commit to one another mutt be -- must be equal, as well. >> there will be one more party tonight, the obamas and friends celebrate with campaign and white house staffers at inaugural ball where supposedly lady gaga is performing. >> the president is sworn in on two bibles one from martin luther king and the other from abraham lincoln. traffic and weather, together, next on the abc7 morning news. here is the golden gate bridge, dry as a bone. but maybe, maybe, maybe there is rain in the forecast. >> and a deal to sell sacramento kings so they can move to seattle. the ripple effect that >> welcome back, almost everyone is just a bit warmer than yesterday so we do not have as frost. 32 at concord and fairfield is 31. upper 30's around the bay to 40 in oak and 47 in san francisco. this afternoon, low-to-mid 60's with filtered sunshine because of the high
KRON
Jan 24, 2013 6:00am PST
to suspend the nation's 16.4 trillion dollar debt ceiling through may's 18th. the bill will prevent the u.s. from going into default. senate majority leader harry reid says that it will also pass the bill. president obama is expected to sign on tuesday when it reaches his desk. >> today the board of trustees will meet to discuss ways to save sampras's goes city college. the school is on the brink of shutting down. that is because the accreditation commission found numerous violations with the college structures and finances. census that met yesterday to talk about the issue the members of the community are anxious about what could happen next. >> if there is a real need to have to be able to show a perception that we are unified and that we really want to save our college. it is not a good option for us to be absorbed by another district. we need to maintain control of our college and awaited do that is with jewels solidarity. >> and the school which serves about 85,000 students has until march to turn itself around. >> we have a water break in greenbrae and it's going to >> we have a wat
CBS
Jan 21, 2013 7:00am PST
's why i think you saw them retreat from the plan to push this debt ceiling issue immediately upon returning to work. so i think that there's a prospect for getting some things done. certainly on issues like immigration reform. there's a powerful impetus for there to be progress. i think we can make some. >> david, thank you very much. you're going to be leaving the president's side and starting an institute of politics at the university of chicago and we wish you all the luck in the world. >> you guys, i need you out there. >> nancy cordis is there as a number of the dignitaries begin to take their seats. what are you seeing? >> scott, there are 1,600 seats that have been set up on the west front terrace of the capitol. people who will be surrounding the president as he takes the oath of office. we are still awaiting the announcement of the dignitaries who will come out in groups. first, the nation's diplomatic core, the governor, then the cabinet, the joint chief of staff, and supreme court. and two former presidents, bill clinton and president carter who will both be in attendan
FOX Business
Jan 28, 2013 1:00pm EST
the road. and the tax hikes were not as bad as many people thought. the next thing is the debt ceiling which was a big leverage point and republicans kicked that can down the road. all you have left is the sequester. a lot of votes stores are on the sidelines worried about political risk and but a lot of political risk has been removed. tracy: you said kicked down the road but it will come back. you're talking about short-term euphoria for a while, correct? >> correct. the fed money policy is a huge driver. they're in the process of a financial repression regime where you look at different asset classes like treasury bonds. they're incredibly expensive. you don't make anything after cash. you lose money after inflation, right? tracy: right. >> what are your options? they're trying to drive people into risk assets. as investors look into high-yield bond or certain types of mortgage-backed securities they have become very rich. the only thing really left is equities. it is almost a process of elimination for investors. they end up driving equities higher. tracy: that's what we've seen in
CNBC
Jan 23, 2013 9:00am EST
. investors are awaiting the house vote this afternoon on postponing the debt ceiling. news in europe, david cameron vowing a referendum on whether britain remains in the eu. in japan, longest losing streak in two months. china awaits data, that's out tonight. the road map in the u.s. starts off at the golden arches. u.s. same-store sales up 9% for mcdonald's, helped by the dollar menu and mcrib. >> ibm and google surging premarket. google gets its price target raised by six firms this morning on better than expected earnings. >> coach getting pummeled this morning, blaming its big earnings miss on weakness in north america during the holidays. it says it is transforming itself into a lifestyle brand. >> apple's results tonight after the bell. could this be the quarter that marks the bottom on the stock. will tim cook talk about the next omg product in the pipeline. >>> we'll start with mcdonald's. it earned 1.38 nds the fourth quarter, it exceeded estimates. ceo don thompson said for the near term, mcdonald's expects top and bottom line growth to remain under pressure with january global co
CNBC
Jan 24, 2013 6:00am EST
, you know, when it comes to this debt ceiling issue, or it comes to who's going to be elected, or health care issues or what have you. how is that -- how do you put that in to your investing hat? >> well, everything is a transaction, and it won't have an effect on prices, in any event, unless it has an effect on a transaction. so what i do is i know who the buyers and the sellers are. and then by thinking that through, i think how will it have an effect on transactions. far more important than, over the long term, the leader of a country will have some effect on the whole overall health of the economy. but even -- they can't even res. they're, you know, it's a very difficult challenge. the whole political system. you could be president of the united states and it doesn't mean you can change policy. then, if policy changes, it has to basically change the things that produce -- have an effect on productivity. it's something that's peripheral largely. like, for example, a bigger issue is how does financial transactions work such as if you lower interest rate, and you have nothing
CNBC
Jan 25, 2013 6:00am EST
for once weren't totally ridiculous with the debt ceiling but they extend the debt ceiling -- >> richard, stay with us. austan you're here for the rest of the show. we'll have more. at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of
FOX Business
Jan 21, 2013 3:00pm EST
as the concern over the debt ceiling and the fiscal cliff winds down. cheryl: i'm sure there's a lot of investment banks right now in new york that are celebrating what you just said. we shall see. john, we will have more of your pick merck on thursday. merck's chairman and ceo will be sitting down with liz claman in davos switzerland, that interview is coming up later on this week. technology stocks took off last year. they've started off 2013 pretty strong, except for one name, apple. shares of apple this year have already fallen 6% in the first 13 trading days of the year. will the earnings report on wednesday be a turn around or will it send the stock going lower? plus will the rest of the sector follow its lead? we will have more on that coming up next. cheryl: business continues. investors gearing up for a big earnings week this week. tech giants apple and google both set to report. but let's take a look at some other major tech stocks that are in the green so far for the year. starting with some of the computer makers, fox business reported last week that dell may be looking t
MSNBC
Jan 23, 2013 3:00am PST
, today republicans in the house are expected to vote on a plan that's going to defuse the debt ceiling crisis at least temporarily. republicans are planning to offer legislation that will suspend the enforcement of the federal debt limit for at least three months, allowing the government to keep borrowing money to pay for all of its current obligations. in exchange, the house gop'ers want the democratic-controlled senate to do something they haven't done in 1,365 days, pass a budget. something that body hasn't done since 2009. now, instead of demanding spending cuts, republicans have added a provision to the bill that would suspend lawmakers' own paychecks if their chamber fails to pass a budget by april 15th. that's a lot like actually the no labels, no budget, no pay plan that that organization's been dealing with, talking about for a long time. michael steele, i think that's a great idea. >> i do, too. >> if you don't do your job -- >> why get paid for it? >> and the democrats in the senate haven't done their job in that many days, why pay them? >> i don't think you should. in fact,
CNBC
Jan 22, 2013 3:00pm EST
another debt ceiling debate and debacle would not be helpful here. i think there's so much minon the sidelines between the retail investor and the corporate america today, has so much money to invest. get rid of some of that uncertainty and this economy will go. i'm quite bullish about that. >> can you provide guidance for this year without knowing exactly what washington is going to come up with? >> we gave a range. we don't give guidance. we give a range on a conservative side and optimistic side. we're right inside that range. had a great start to the year. we're ahead of consensus. we her record asset gathering and record guidance sales and great control. had a great start. >> had a good three months in the stock as well at this point. fred, always good to see you. >> thanks for coming by. >> the president of amayor trade joining us today. dell shares sharply higher today. after david faber broke the news that microsoft is now in talks to help finance that buyout of dell. david joins us now with more details. they are getting a party together, aren't they? >> yes, they may ve
CNBC
Jan 23, 2013 4:00pm EST
a fight around the debt ceiling? do you think we'll have a disruption around this inability to compromise? >> i know nothing more than you other than what i read in the paper today and it seems like they are already starting to. could mice by pushing it out and asking for a budget which i think all seems rational and compromise by the way so i applaud them. >> what does your gut tell you about all the money moving into stocks recently? had a fantastic early 2013. do you think this is sustainable? >> the economy grows it's sustainable, and i still think you can buy american companies at pretty good prices. these are some of the world class companies, you know, not just american companies, european and japanese and chinese companies, but you are still buying at fairly good prices and the alternatives aren't that good, yeah, i'm comfortable owning stocks right now. >> are you saying that kind of comfort on the part of investors, the private bank, wealth management? what are you seeing in terms of the sentiment? >> i think, yes, but not -- it's not -- you and i have seen real bull markets, no
MSNBC
Jan 24, 2013 8:00am PST
last week that was a clean no budget no pay piece. i think we should have a clean debt ceiling extension and the fact they coupled it together probably is not how i would have introduced legislation. that said, our job is putting together a responsible budget. that allows the public to see what our priorities are, how we're going to use our tax revenue. and we can do this in a smart way. >> one thing that is going on currently as we speak, the confirmation hearings for john kerry to take over for secretary clinton, and yesterday, it was certainly a big day on the hill for secretary clinton about the benghazi situation. i want to play for everybody what you had to say as well as senator barbara boxer told the secretary of state. >> as a new member of congress, i think i speak for all the freshman that we're not going to get much time to serve with you, but we hope in a few years we'll get that chance to serve again. >> i want to thank you because this is maybe the last time you'll come before us as secretary here. i want to thank you for your advocacy on behalf of women around t
CNBC
Jan 28, 2013 9:00am EST
. so the resolution of the debt ceiling crisis in particular, i think was a big moment for the market. we are targeting 2.25% on the ten-year over the next couple of months. as you mentioned, economic momentum is getting a little better. really, the underlying trend of things is not so bad for the economy. and if you do get, as your previous guest noted, another move up of 3%, 4%, 5% in equities, then that could easily be the impetus to get treasury yields even higher than they are today. >> the big question, and we should talk about it, is the losses that people could suffer moving forward. but for the moment, if we take a historical perspective, we're still at very low interest rates, aren't we. 4%, 5% would be a normal rate. i assume this is not necessarily at the moment at this level a problem in slowing the economy. >> no, we're not panicked. in fact, we think that treasury yields will probably find a plateau somewhere around that 2.25% and end the year somewhere about where they are today. treasury yields, at least at the moment, are heavily influenced by supply and demand facto
FOX Business
Jan 24, 2013 11:00am EST
to the debt ceiling and saying another policy error could be a big market hit. what do you mean by that? >> we look can't think we are still in this leveraging scenario. it is not over. debt levels are still high in the u.s. and many developing economies. we have to bring those down to create a nice fundamental situation. that provides a lot of opportunity for policymakers to make mistakes or mess things up. and the extension in front of -- a sequester coming. the extension of the budgets for the coming year, in europe we still have spain refinancing 20% of gdp in debt, more than enough opportunities, that is not a best case. >> you are talking about the united states, the worst enemy at this point. to get these jobless claims at week 5-year lows, nice to see but if unemployment is at 10%, in range for 2013, and it will take 1/2% of of the gdp, no jobs, don't even have an economic recovery and no jobs. >> not necessarily a bad economy, we are in an okay economy, not great because 1/2%, from a fiscal austerity coming through the pike, the job situation is improving gradually, housing is and i s
FOX Business
Jan 24, 2013 9:20am EST
are a republican. you are republican now. you are with republicans in the house. >> the debt ceiling, they could have the focus on entitlement reform. hopefully that is what we will do over the next 90 days. hard-working officials in the house and reform. stuart: come back and contradict the president any time you like. next a man who does business with microsoft sells software but is still critical of the company's the executive as am i. why can't microsoft be the one to challenge apple? what will it take? the man from microsoft is next. [ wind howls ] [ dog barks ] ♪ ♪ [ male announcer ] something powerful is coming. ♪ see it on february 3rd. ♪ stuart: it looks like apple's pain is a gain for its competitors. tell me how. nicole: let's take a look at the competitors. research in motion, new multi-year high, apple is down 10%. seeing research in motion, google, yahoo! microsoft, amazon with the arrows, some of which are hitting multi-year highs. google isn't 1.8%, same with yahoo! and microsoft. our viewers -- stuart: thank you very much for that little plug. avalanche netflix making ne
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